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Chicago Fed Midwest Manufacturing Index declined 1.0%
The Chicago Fed Midwest Manufacturing Index (CFMMI) declined 1.0% in October, to a seasonally adjusted level of 98.6 (2002 = 100). Revised data show the index decreased 3.6% in September, to 99.5. The Federal Reserve Board’s industrial production index for manufacturing (IPMFG) edged up 0.6% in October. Regional output in October was 8.3% lower than a year earlier—below the 5.2% decrease in national output.
Three of the four regional industry sectors decreased in October:
Regional steel sector output dropped 3.1%;
Regional auto sector production declined 3.0%;
Regional machinery sector output decreased 1.2%; and
Regional resource sector output moved up 1.7%.
Posted: November 26, 2008 Wednesday 10:03 AM